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Wednesday, May 10, 2017

SO MUCH RISK FOR 4.45% YIELD? EPF SELLS LONDON PROPERTY FOR RM985.4 MIL AMID RUMORS OF FUNDRAISING FOR GE14

THE Employees Provident Fund (EPF) has sold a London office property to Chinese Estates for £175m (RM985.4 million).

The sale of the 80,000 sq ft building – 11/12 St James’s Square – was finalised by Savills Investment Management on behalf of EPF, according to CBRE, which advised Hong Kong-based Chinese Estates.

The sale was done at a net yield of 4.45% and comes two years after it offloaded its One Sheldon Square office property in London’s Paddington district. The latter sale was for £210m (RM1.18 billion) to British Land, a listed property company.